Buying Versus Renting

A seemingly ginormous set of factors can be considered when making this decision. These include comparing the initial and ongoing total costs of renting versus buying. When renting you lack control over things ranging from your lease getting renewed, the amount of the lease and the maintenance provided to the property by your landlord.

With buying you gain predictable mortgage payments for years to come. With that comes responsibility for the down payment, closing costs and maintenance.

In metro markets overall, Trulia* has calculated that interest rates would have to rise to 10.6% before renting would become cheaper than buying. And those interest rates went out with the 80s!

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